S&P Global Platts assessed the Chinese 75% Si ferrosilicon price at $1,340-$1,360/mt FOB China Thursday, up from $1,310-$1,340/mt a week earlier, as spot export demand picked up.
Rising Chinese domestic demand and prices also added support to the export market this week, sources said.
Producer and trader offers stood at $1,350-$1,370/mt FOB on Thursday, with tradable levels mostly indicated at $1,350/mt.
A Ningxia producer said he sold at $1,340/mt FOB China on Thursday, for 300 mt, mid-November cargo, to be delivered to Busan, South Korea.
"We offered at $1,350/mt and closed at $1,340/mt. We still have supply available and are still quoting $1,350/mt for now," the producer said.
An Asian producer said Thursday he was in talks to sell at $1,360/mt CIF Taiwan basis, and put FOB China prices at around $1,350/mt.
Three other Chinese producers and trader also indicated current tradable spot price at around $1,350/mt on Thursday.
Domestic Chinese ferrosilicon prices were heard mostly at Yuan 6,700/mt ($1,011) ex-works basis on Thursday, up from around Yuan 6,300-6,400/mt last week, sources said.
Domestic supply has tightened due to production cuts in recent months on environmental concerns and weak prices previously, sources said. Domestic demand from steel mills has also increased in the past weeks as prices started to recover, sources added.
